Why are our properties listed on both Airbnb & VRBO?
As a second homeowner, your vacation rental performance is important, and it's ESSENTIAL to list your property on both Airbnb.com and VRBO.com simultaneously (not one or the other). Each platform caters to distinct user demographics and offers advantages depending on the market and time of year, by leveraging both, you can significantly enhance your property's visibility and potential gross booking revenue (GBR).
Market Reach and Demographics
Airbnb boasts approximately 5 million listings worldwide and holds about 20% of the vacation rental market share. It's particularly popular among younger travelers seeking diverse accommodation options, including shared spaces and unique stays.
On the other hand, VRBO, offers around 2 million listings and tends to primarily to families and groups desiring entire homes for longer stays. This platform is favored by travelers looking for traditional vacation rentals with ample space and amenities. The bottom line is that you need to have your property listed on both websites.
Potential Revenue Loss from Single-Platform Listing
By limiting your property's exposure to just one platform, you risk missing out on a substantial segment of potential guests; we estimate that only marketing on a single website will result in a 20-35% loss in potential gross revenue (depending on the property and market). For instance, if your property is only listed on Airbnb, you might not reach Vrbo's family-oriented user base, and vice versa. This limited exposure can lead to decreased booking rates and, consequently, reduced revenue.
Revenue Increase from Dual-Platform Listing
While specific percentage increases can vary based on location, property type, and market demand, expanding your listing to both platforms can lead to a notable uptick in bookings. By tapping into the distinct user bases of both Airbnb and Vrbo, you can achieve higher occupancy rates and command better pricing, thereby enhancing your overall rental income.
Importance of Calendar Synchronization with Tools like Guesty
Now that you understand the importance of having your property marketed on multiple websites, you need to use a syndication tool like Guesty so your property calendar is synced up and you avoid double booking the same date and ensure accurate availability. Utilizing a property management tool like Guesty can streamline this process. Guesty's Multi-Calendar feature allows you to view and manage all reservations from various channels in a single interface. It automatically syncs bookings across platforms, reducing the risk of errors and saving you valuable time. At Wilkuma, we use Guesty, but other systems exist that serve a similar purpose.
Conclusion
In the increasingly competitive Massachusetts vacation rental market, diversifying your property's presence across both Airbnb and Vrbo is a strategic move to optimize your vacation rental and significantly increase your gross booking revenue.
